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| - Main Draft Legislation Page - |
Legislative Proposals and Explanatory Notes Relating to Income Tax
Dividend Taxation
Published by
The Honourable James M. Flaherty, P.C., M.P.
Minister of Finance
June 2006
Notice to the reader:
The text in this document is an exact copy of the text found in the PDF version. However, the software used to produce this version cannot fully reproduce the underlining and sidebar features found in the other formats. These formats of the document can be found by clicking on the following link:
Related document:
- Draft Changes to Eliminate the Double Taxation of Large Corporation Dividends (News Release 2006-028)
Table of Contents
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| Clause in Legislation | Section of the Act Amended | Topic |
|---|---|---|
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| Legislative Proposals | ||
| 1 | 15(1.1) | Consequential Amendment to Subsection 15(1.1) |
| 2 | 82(1) | Taxable Dividends Received |
| 3 | 87(2) | Consequential Amendments to Subsection 87(2) |
| 4 | 88(1)(e.2) | Consequential Amendment to Paragraph 88(1)(e.2) |
| 5 | 89(1) | Definitions |
| "eligible dividend" | ||
| "excessive eligible dividend designation" | ||
| "general rate income pool" | ||
| "low rate income pool" | ||
| 89(4) | GRIP Addition: Becoming a CCPC | |
| 89(5) | GRIP Addition: Post-amalgamation | |
| 89(6) | GRIP Addition: Post-winding-up | |
| 89(7) | GRIP Addition for 2006 | |
| 89(8) | LRIP Addition: Ceasing to be a CCPC | |
| 89(9) | LRIP Addition: Post-amalgamation | |
| 89(10) | LRIP Addition: Post-winding-up | |
| 89(11) to (13) | Election: Non-CCPC | |
| 89(14) | Dividend Designation | |
| 89(15) | Interpretation – Deposit Insurance Corporations | |
| 6 | 121 | Dividend Tax Credit for Eligible Dividends |
| 7 | 125(7) | Interpretation – "Canadian-controlled private corporation" |
| 8 | 127.52(1)(f) | Consequential Amendment to Paragraph 127.52(1)(f) |
| 9 | Part III.1 | Additional Tax on Excessive Eligible Dividend Designations |
| 185.1(1) | Tax on Excessive Eligible Dividend Designations | |
| 185.1(2) to (4) | Election | |
| 185.2 | Rules Applicable to Part III.1 | |
| 10 | 248 | Interpretation |
| 248(1) | Definitions | |
| "eligible dividend" | ||
| "excessive eligible dividend designation" | ||
| "general rate income pool" | ||
| "low rate income pool" | ||
| 11 | 249(4.1) | Deemed Year-end on Status Change |
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| Explanatory Notes | ||
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| Last Updated: 2006-06-29 |
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